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The Charlotte, N.C., City Council has unanimously approved an $87.5 million plan to upgrade Bank of America Stadium in exchange for a commitment from the Carolina Panthers to stay put for at least six years. The money will come from hotel and food and beverage tax revenue and will pay for improvements including escalators, video boards and sound-system upgrades at the 17-year-old stadium.

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Federal Realty has partnered with two local companies to acquire Miami's CocoWalk for $87.5 million. Federal Realty will own an 80% stake in the 198,000-square-foot lifestyle center, with minority stakes held by Grass River Property and Comras Co. The buyers plan to redevelop the center.

A conservancy led by a public-private board is seeking approval from the Minneapolis City Council to oversee development and maintenance operations at a planned urban park. The park will be located near Minnesota Vikings stadium.

The Council of the District of Columbia could consider a proposal from the Federal City Council to create an infrastructure bank for Washington, D.C., to address capital and social projects without increasing debt. The bank would combine public and private money to alter how the city handles development projects. The Federal City Council is a coalition of top business organizations.

The Cleveland City Council has unanimously agreed to transfer management of 444 acres of lakefront parks from the state to Cleveland Metroparks. The state has been leasing the city-owned parks since 1978. Cleveland Metroparks will lease them for 99 years and has secured funding to bring them up to standards.

Tom Sasser, president of Charlotte, N.C.-based Harper’s Restaurant Group and head of the town's restaurant trade organization, told lawmakers in a letter that he and other restaurateurs would support a new food-and-beverage tax to pay for stadium improvements to keep the Carolina Panthers in town. The team seeks public money to fund $300 million in improvements at 17-year-old Bank of America Stadium.